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Wednesday, Oct 24
2012, 9:38 AM
Apple (AAPL +1.8%) bounces after AT&T (T) discloses it activated 4.7M iPhones in Q3, well...
Apple (AAPL +1.8%) bounces after AT&T (T) discloses it activated 4.7M iPhones in Q3, well above Q2's 3.7M. That figure comes in spite of Ma Bell's admission iPhone 5 supply constraints affected its postpaid net adds. Apple sold off yesterday on concerns about the iPad Mini's pricing, and perhaps also Tim Cook's claim that cumulative iPad sales topped 100M 2 weeks ago - that implies FQ4 sales of 16M, below an 18M consensus. FQ3 iPad sales were boosted by inventory builds, something that may have led to an FQ4 inventory draw-down.